Assessing the efficacy and standardization potential of five competing venture capital investment evaluation approaches

The research objective behind this article was to perform a critical evaluation and comparison of five representative business plan evaluation aids (BPEAs) to facilitate constructive discussion of the proposition that greater standardization of venture capital decision-making might be both desirable and possible. The five BPEAs were systematically compared using a structured, taxonomic process. The evidence of this investigation suggests a clear superiority of BPEAs that are based on the researched attributes of successful ventures and use actuarial modeling. Discussion centered on the importance of using BPEAs in a quest for greater consistency during venture capital investment decision-making.

Caprice versus standardization in venture capital decision making

This study examined the criteria used by venture capitalists to evaluate business plans in order to make investment decisions. A literature survey revealed two competing theories: 'espoused criteria' where evaluation decisions are based on what venture capitalists say are the decisive factors, versus the use of 'known attributes' that successful ventures actually possess. Brunswik's Lens Model from Social Judgment Theory guided an empirical investigation of several different evaluation methods based on information contained in 129 business plans submitted for venture capital over a three-year period. Data evaluation culminated in the comparison of the percentage of correct decisions ('hit rate') for each method. We found that decisions based on the known attributes of successful ventures have significantly better hit rates than decisions made using espoused criteria. Discussion centered on the goal of achieving consistency in the conduct of venture analysis. Process standardization can aid in the achievement of consistency. Future research will both deepen and broaden insights.

Toward the standardization of venture capital investment evaluation : decision criteria for rating investee business plans

This study examined the criteria used by venture capitalists to evaluate business plans in order to make investment decisions. A literature survey revealed two competing theories: “espoused criteria” where evaluation decisions are based on what venture capitalists say are the decisive factors; versus the use of “known attributes” that successful ventures actually possess. Brunswik’s Lens Model from Social Judgment Theory guided an empirical investigation of several different evaluation methods based on information contained in 129 business plans submitted for venture capital over a 3 year period. Data evaluation culminated in the comparison of the percentage of correct decisions (“hit-rate”) for each method. We found that decisions based on the known attributes of successful ventures have significantly better hit-rates than decisions made using espoused criteria. Discussion centred on the goal of achieving consistency in the conduct of venture analysis. Process standardization can aid in the achievement of consistency. Future research will both deepen and broaden insights.

Mobile payments (mPayments)- an exploratory study of emerging issues and future trends

With the growing momentum of wireless revolution and mCommerce explosion, it is evident that mobile devices are becoming a critical component of the new digital economy. As mobile markets continue to mature, being able to pay using the mobile handset will be key to the development of next generation services. The current market penetration of mobile phones in conjunction with the expected growth of mCommerce, offers high potential for mPayment growth over the next few years. When mobile phones are equipped with a device to protect personal information, the security level of an entire service, including the network, improves considerably. However, the mobile payments market today is typical of an emergent one, encumbered with an abundance of approaches and concepts that may not interoperate. In this paper, we have explored the broad range of available mPayment methods, emerging issues in standardization, security and some proposed/ existing solutions.

An exploratory study of information systems subject indexing

The motivation for detailed study of information systems research subject indexing schemes is explained, along with an analysis of two indexing schemes proposed for use in the area.  A number of reference disciplines are examined for their ability to provide insights and analysis approaches.

Utilising integrated information system approach for building demolition project management

Building demolition has been undergoing evolutionary development in its technologies for several decades. In order to achieve a high level of demolition material reuse and recycling, new management approaches are also necessitated. Several information systems are proposed or developed particularly promoting efficient project management, waste minimization and project safety. These information systems include waste exchange, 4D visualization, safety aware schedule, waste product schedule, site atTangement optimization and so on. However, the fragmented information systems applied by various parties involved in the demolition project could generate conflicts due to the lack of communication and standardization. This paper aims to develop a framework of an integrated information system for building demolition projects, which covers the major aspects of innovative management approaches and conventional construction project management perspective. Practically, the system will serve as an information portal for all demolition project team members.

System boundary selection in life-cycle inventories using hybrid approaches

Life-cycle assessment (LCA) is a method for evaluating the environmental impacts of products holistically, including direct and supply chain impacts. The current LCA methodologies and the standards by the International Organization for Standardization (ISO) impose practical difficulties for drawing system boundaries; decisions on inclusion or exclusion of processes in an analysis (the cutoff criteria) are typically not made on a scientific basis. In particular, the requirement of deciding which processes could be excluded from the inventory can be rather difficult to meet because many excluded processes have often never been assessed by the practitioner, and therefore, their negligibility cannot be guaranteed. LCA studies utilizing economic input−output analysis have shown that, in practice, excluded processes can contribute as much to the product system under study as included processes; thus, the subjective determination of the system boundary may lead to invalid results. System boundaries in LCA are discussed herein with particular attention to outlining hybrid approaches as methods for resolving the boundary selection problem in LCA. An input−output model can be used to describe at least a part of a product system, and an ISO-compatible system boundary selection procedure can be designed by applying hybrid input−output-assisted approaches. There are several hybrid input−output analysis-based LCA methods that can be implemented in practice for broadening system boundary and also for ISO compliance.

The movement ABC: a cross-cultural comparison of preschool children from Hong Kong, Taiwan and the USA

The purpose of this study was to evaluate the suitability of the Movement Assessment Battery for Children (M-ABC) for use in Greater China. Chinese children numbering 255 between the ages of 4 and 6 from Hong Kong and 544 from Taiwan were tested individually on the standardized test contained within the M-ABC. Data from these 799 children were compared to that presented in the test manual for the 493 children of the same age comprising the United States standardization sample. Both within-culture and cross-cultural differences were statistically significant when all items of the M-ABC were examined simultaneously, but effect sizes were too low to be considered meaningful. However, descriptive analysis of the cut-off scores used for impairment detection on the test suggested that adjustments to some items would be desirable for these particular Chinese populations.

Cross-national compartability of burden of disease estimates:the European disability weights project

Objective: To investigate the sources of cross-national variation in disability-adjusted life-years (DALYs) in the European Disability
Weights Project.

Methods: Disability weights for 15 disease stages were derived empirically in five countries by means of a standardized procedure and the cross-national differences in visual analogue scale (VAS) scores were analysed. For each country the burden of dementia in women, used as an illustrative example, was estimated in DALYs. An analysis was performed of the relative effects of cross-national variations in demography, epidemiology and disability weights on DALY estimates.

Findings: Cross-national comparison of VAS scores showed almost identical ranking orders. After standardization for population size and age structure of the populations, the DALY rates per 100 000 women ranged from 1050 in France to 1404 in the Netherlands. Because of uncertainties in the epidemiological data, the extent to which these differences reflected true variation between countries was difficult to estimate. The use of European rather than country-specific disability weights did not lead to a significant change in the burden of disease estimates for dementia.

Conclusions: Sound epidemiological data are the first requirement for burden of disease estimation and relevant between-countries comparisons. DALY estimates for dementia were relatively insensitive to differences in disability weights between European countries.

Global eT@axation : competing visions

The Organization for Economic Cooperation and Development (OECD) places the issue of taxation of cross-border e-commerce transaction as one of its top four projects for investigation. In January 2001, some member countries agreed to a series of guidelines on how to apply existing tax treaties to Web transactions. After discussing potential threats and challenges facing etax administrators and possible solutions, the researchers report on the global momentum towards Extranets for collaborative knowledge management. Previous research indicated a need for a global etaxation Extranet for knowledge management based on the principles of the Cochrane Collaboration in the health sciences. These preliminary findings have been strengthened by parallel moves by the International Organization for Standardization (ISO) in setting up a global Extranet. The global imperative for harmonization of Internet commerce tax initiatives is reflected in contemporary interest in Europe in the redefinition of business requirements and processes related to corporate tax obligations.

Retail internationalisation : drivers, impediments and business strategy

In light of recent changes in the international environment it is important to consider whether the drivers and impediments of retail internationalisation and the business strategy adopted have also changed. The findings from 12 qualitative interviews with UK and US retailers indicate that a variety of factors, ranging from historical precedence and investor pressures to saturation of the domestic market and foreign market attractiveness, drive retail internationalisation. In terms of impediments to foreign expansion, issues such as political and economic instability, previous experience and perceived cultural differences presented obstacles to internationalisation. Interviewees also expressed a desire for increased standardisation, while acknowledging a substantial degree of adaptation in response to cultural differences.

Child labour and supply chain : profitability or (mis)management

Purpose – The purpose of this paper is to provide a realistic assessment, with an historical perspective, of the current practises and progress made by organisations towards elimination of child labour in global supply chains.

Design/methodology/approach – Literature review in the area of use of child labour within the global supply chain was combined with additional information obtained from the company searches of the GRI database, company ranking tables, and other sources.

Findings – Child labour is one of a number of areas of concern in global supply chains. Continued exploitation of child labour indicates an imbalanced state and consequently forces can be unleashed through standardization, collaboration and communication amongst all stakeholders to ensure protection of the vulnerable. This paper is part of the broader analysis informing incremental changes to supply chain management to preserve the rights and welfare of children in the present and future generations. Research/limitations/implications – The analysis is based on secondary data sources and further research is thus needed to verify the individual weightings of the criteria used in the primary ranking of the companies.

Practical implications – The findings provide encouragement for policy and decision makers to implement incremental changes to global supply chains in order to protect the rights and welfare of children, according to the standards of Social Accountability (SA) 8000, the International Labour Organisation (ILO), and other world trade stakeholders.

Originality/value – This paper questions the view that child labour incidences have diminished proportional to economic development. A swinging fulcrum with hidden traps for developed and developing nations in light of cross border transactions through supply chains has been proposed.

Peripheral quantitative computed tomography in children and adolescents : the 2007 ISCD pediatric official positions

Peripheral quantitative computed tomography (pQCT) has mainly been used as a research tool in children. To evaluate the clinical utility of pQCT and formulate recommendations for its use in children, the International Society
of Clinical Densitometry (ISCD) convened a task force to review the literature and propose areas of consensus and future research. The types of pQCT technology available, the clinical application of pQCT for bone health assessment in children, the important elements to be included in a pQCT report, and quality control monitoring techniques were evaluated. The review revealed a lack of standardization of pQCT techniques, and a paucity of data regarding differences between pQCT manufacturers, models and software versions and their impact in pediatric assessment. Measurement sites varied across studies. Adequate reference data, a critical element for interpretation of pQCT results, were entirely lacking, although some comparative data on healthy children were available. The elements of the
pQCT clinical report and quality control procedures are similar to those recommended for dual-energy X-ray absorptiometry. Future research is needed to establish evidence-based criteria for the selection of the measurement site, scan acquisition and analysis parameters, and outcome measures. Reference data that sufficiently characterize the normal range of variability in the population also need to be established.

Revisiting retail internationalisation drivers, impediments and business strategy

Purpose: – In the light of recent changes in the international environment, the purpose of this paper is to consider whether the drivers of, and impediments to, retail internationalisation and the business strategy adopted have also changed.

Design/methodology/approach: – Interviews were conducted with 12 UK and US retailers. These exploratory data were combined with a review of the literature to explore changes in the drivers and impediments of retail internationalisation.

Findings: – Findings of this study suggest that, while a variety of factors drive retail internationalisation, profit growth is the most dominant motivator. In terms of impediments to foreign expansion, domestic market conditions were a barrier to the initiation of foreign expansion, whilst the regulatory environment and previous experiences presented obstacles in the process of internationalisation. Interviewees also expressed a desire for increased standardisation, while acknowledging the need for a substantial degree of adaptation in response to cultural differences.

Research limitations/implications: – The research findings are limited in terms of their generalisability.

Originality/value: – Much of the existing research into retail internationalisation was conducted in the 1990s. Given the substantial changes that have occurred over the past 15 years, the value of this paper lies in the updating of knowledge.